Bankers squeezed by cut budgets were eyeing moves to cheaper housing in less central London neighbou

Apartments and1 mix tape tour jerseys for rent in London's most exclusive neighbourhoods have traditionally been the preserve of bankers. As the potency of the financial sector wanes, they are increasingly let to children of the international super-rich studying at the city's universities.
"I chose the place and then asked my parents whether it was alright," said Sumiro, a 21-year old Indonesian student who will be living alone in the 895 pound-a-week ($1,400) two-bedroom apartment and1 mix tape tour jerseys with the Philippe Starck chairs when he starts university in September.
Unlike the stereotypical British students who squeeze into cramped flats and shop in budget stores, the offspring and1 mix tape tour jerseys of the super-rich exhibit a taste for luxury furnishings, in-house gyms and cleaners that visit twice a week.
"They're looking for a hotel room," said Naomi Heaton, chief executive of residential fund manager London Central Portfolio (LCP), which has students from Russia, China and Saudi Arabia renting homes in an overall property portfolio worth 500 million pounds.
"We didn't want a typical British student pad, we wanted something quite big, quite decent, so that there would be space for our parents and friends when they visited," said Nadine, who lived in a 2,400 pounds-a-month London flat while studying last year.
At the same time, strong economic growth in China and other parts of Asia has created immense wealth, mainly fuelled by manufacturing, and1 mix tape tour jerseys construction and commodities. The number of U.S. dollar millionaires in Asia outnumbered North America for the first time in 2011.
Paris and New York are also popular student destinations. In February, Russian fertilizer oligarch Dmitry Rybolovlev paid $88 million for New York's most expensive apartment, a penthouse the size of two and a half tennis and1 mix tape tour jerseys courts with views of Central Park, for his student daughter Ekaterina Rybolovleva.
Parents keen to get the best located homes for their children are often prepared to outbid bankers, Heaton said. They also sometimes and1 mix tape tour jerseys pay a year's rent upfront as their children don't have a UK credit history.
LCP research showed the proportion of homes in prime neighbourhoods and1 mix tape tour jerseys like Mayfair and Knightsbridge rented by international students doubled to 23 percent in the six years to June 2012, becoming the second largest group behind the financial sector at 45 percent.
"With the current rates of growth, international students and1 mix tape tour jerseys would represent 50 percent by 2020," LCP's Head of Investment Management, Hugh Best, told Reuters, saying expansion and1 mix tape tour jerseys in the financial sector was likely to plateau.
Foreign students in the City of Westminster district, which includes some of the city's priciest streets, and1 mix tape tour jerseys pay an average annual rent of 28,878 pounds, LCP said. By contrast, the average UK student paid 3,490 pounds in 2011, data on UK website Accommodation and1 mix tape tour jerseys for Students said.
About 26 percent of London's students and1 mix tape tour jerseys are from overseas, with China, India and Nigeria sending the most students to the UK between 2009 and 2011, data from the UK Council for International Student Affairs showed.
Bankers squeezed by cut budgets were eyeing moves to cheaper housing in less central London neighbourhoods such as Fulham or Bayswater, said Matthew Hobbs, who heads up the lettings team at Savills's Kensington office.
"Instead of spending 1,000 pounds a week, they're spending 800 pounds and1 mix tape tour jerseys a week. They're scaling back. You can rent a nice house in Islington for 80 percent of what you can rent a nice house in Kensington for."
Renting often paves the way to buying, Heaton said, as students and1 mix tape tour jerseys will persuade their parents to buy a London property once they are familiar with the city, another factor helping to super-charge the central London property market.
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Taxes today are lower than they were on inauguration day 2009. Back in January 2009, the CBO projected that total federal tax revenue that year would amount to 16.5 percent of GDP. This year? 15.8 percent.